São Paulo – More than 250 startups prepare to participate in the competition of the Annual Investment Meeting (AIM) to be held alongside the 10th investment forum to take place in Dubai, United Arab Emirates from March 24-26. Pictured above, the last edition.
A series of national startup competitions take place in 72 countries before the final selection in Dubai. The dispute is an opportunity for the new businesspeople to showcase their companies and present their entrepreneurial ideas to an expert jury in business management, entrepreneurship, and technology.
The competition will allow the exhibitors to use the AIM platform to connect and interact with regional and international investors during the three-day event. The winners will receive cash prizes as well as information and guidance to help them increase their chance of receiving initial funding for their projects.
The dispute has already started in several countries and was finished in Czech Republic and Argentina. The next stop is Chile, followed by other countries in February. Brazil is one of the participating countries. The winners of each country will be invited to participate in the final selection during the AIM in Dubai and compete for a USD 50,000 prize.
The chairman of the Organizing Committee of the AIM 2020, Dawood Al Shezawi, was quoted as saying in a press release that “AIM offers an opportunity for participating start-ups to increase their early stage venture capital or receive seed funding to start a business or expand its scope, given the crucial role start-ups play in strengthening new industries.”
Al Shezawi added that “entrepreneurs represent a significant segment of the market due to their innovation skills and the ability to meet workplace challenges.”
The chairman Al Shezawi pointed out that latest figures show an unprecedented rise in the number of startups that are expected to ensure economic growth and sustainability, and said that start-ups will help investors seeking new projects for investment, as well as governments looking to boost the economy.
AIM startup award includes five categories. The first one selects a company that has achieved the highest growth rate amongst all the start-ups that pitched. The second category is social impact. The start-up that has the most impact on the society using a sustainable and scalable business model that serves the society is selected. The third criteria of the best use of innovation. A company that has leveraged the latest technology in its business will be selected.
The fourth category assesses climate and environmental impact and will select a start-up that has the most impact in healing or protecting the environment, while the fifth category is privacy and data protection, whose award will be given to a start-up that has achieved the most scale in helping people or companies manage and protect their private data.
According to MENA Venture Investment Report, which assesses the investment in the Middle East and North Africa region, the first half of 2019 saw an increase of 66% in total funding for 238 investments worth USD 471 million, compared to 2018. In terms of sectors, FinTech maintains its top position as the most active industry with 17% of the deals made, followed by e-commerce at 12%, and delivery and transport at 8%.
The report also shows that an increase of 30% was made by 130 institutions invested in MENA-based start-ups, compared to the same period in 2018, while the share of foreign investors from outside the region amounted to 30% of the total investments registered in the period under review.
The Annual Investment Meeting brings together representations from over 140 countries, more than 150 experts and around 20,000 visitors. The three-day event organized by UAE Ministry of Economy is held every year in Dubai.
Translated by Guilherme Miranda
